Bang for the Buck

Abstract

This article focuses on the need to develop alternatives to fossil fuels for present-day and future energy systems. The direction of energy research ought to be toward material science that can extend the life and lower the cost of renewable energy systems, rather than toward highly theoretical analyses that have over-the-horizon payoffs. Additionally, the planning for a smooth transition from fossil based to sustainable energy must include a side-by-side analysis of the economics as well as the energy return on energy investment (EROI) of each potential system. The EROI analysis would ensure the long-term viability of the technology, and the commercial analysis would show how much the system will cost and, thereby, provide an estimate of the money required for the installation in the transition period. The transition from the oil- and coal-based economy to a sustainably based future is not expected to be easy; however, taking advantage of the low-hanging fruit of conservation and energy efficiency will make that transition easier and much less painful.